AQW 487/17-22

Ms Claire Sugden
Independent
East Londonderry

Tabled Date: 17/01/2020
Answered On Date: 04/02/2020
Priority Written: No

Question:
To ask the Minister for the Economy to outline what invest to save opportunities exist within her Department.

Answer:

My Department has three invest to save opportunities which are currently being proposed but are dependent on additional funding. The first involves a review of the Further Education (FE) Sector delivery model. The second proposal, known as Transform to Deliver, will consider how the FE sector is resourced to support future delivery of skills and in providing support for business and industry. The third proposal is to fund a joint project with the Department of Education known as Transition of Young People into Careers.

My Department is also leading the Energy Management Strategy for Central Government, which has set an ambitious target of lowering net energy consumption by 30% by 2030 across Government (from a 2016/17 baseline year). The Strategy includes a proposal to establish an energy ‘invest to save’ fund to take forward projects across Government that will reduce energy consumption and cost in existing buildings. The Strategic Investment Board and the Department of Finance are currently working to agree the nature and timing of the proposed fund.

In addition £220 million is being invested in delivery of six new FE College Campuses, this significant investment will yield running cost savings and provide modern, fit for purpose campuses.

My Department will continue to explore opportunities to invest to save.